Sam Bankman-Fried’s Alameda Research Invests $3M in Trading Platform

Trading platform 3Commas has received $3 million in a Series A funding round led by Alameda Research, according to a press release issued on Nov. 3.

3Commas received $3 million in a funding round where the sole participant was Alameda Research, a quantitative trading firm that includes FTX CEO Sam Bankman-Fried as a team member
The funding will be budgeted towards building new products, international expansion, DeFi integration and the support of new asset classes
In the near term future, the team will work on new products, including an online academy, and expanding into Asia and South America; it is also testing support for the Forex and equity markets
3Commas is a non-custodial crypto-asset management platform that provides traders with strategies and algorithms, and portfolio and risk management solutions, among other features
The team says states that the platform has grown to over 100,000 users and $12 billion in annual aggregated trading volumes since its launch in 2017
The platform is attempting to distinguish itself from competitors via its emphasis on high-quality trading bots and algorithms
Founder Yuriy Sorokin launched the platform with the desire to make cryptocurrency investment easier for retail users, and cited Alameda’s related efforts as a reason for choosing them as an investor